My book “Three aspects of globalization: offshoring, global imbalances, monetary policy has been published (in Polish)
Morgan Stanley Steven Roach warns on Asia asset bubble and calls for policy measures. I can’t stop thinking about Poland 1993-1994, at that time I was young equity market speculator. At that time there was no internet banking, so wide-spread now, and I do recall pensioners queing up for hours (if not days) to bet their life-savings on the stock exchange, which to many appeared at that time a one-way bet. 1994 showed that traffic was two ways, and the collapse was huge and long-lasting. We are in different world now, China is a global investment spot, but still great caution is needed and Chinese authorities will definitely need to study episodes in other countries.
I have been saying for a long time now that first 50 years of XXI century belong to Asia, next 50 years will belong to Africa. I know that media focus on countries with crises (Darfur, Zimbabwe), but they miss to report that many deep reforms are taking place in African countries (Arab world, sub-Saharan as well). I was amazed to find out that many poor African countries have adopted best practices when it comes to national wealth funds, copying Norway solutions. This will pay off in next decades. Just for reference take a look at Norwegian Pension Fund experience .